Narendra Patni

Narendra Kumar Patni (9 March 1942 – 3 June 2014) was Indian businessman and pioneer who founded Patni Computer Systems. He is known for pioneering and starting outsourced software services in the US and then developed a back-end in India, which is now known as "offshore services" a dominant business model in the Indian IT Industry today.

Early life and education Narendra Patni was born on 9 March 1942 in Delhi, India to a Jain Business family. He graduated in electrical engineering from the IIT Roorkee and then he then received a fellowship from the Grass Foundation to study at the Massachusetts Institute of Technology in Cambridge, MA, arriving in the US in 1964—the year before the Immigration and Nationality Act of 1965 started Indian immigration to the US in earnest. after which he completed his MS degree in electrical engineering from the MIT. He also held an MBA from the MIT Sloan School of Management.

Career At MIT Patni met Jay W. Forrester, inventor of magnetic core memory, who became his lifelong mentor. After graduating from MIT Patni joined Forrester Consulting Group, which applied "systems analysis approach to complex corporate systems" as this is where Narendra and Poonam experimented with converting data from paper documents to computer databases without relying on any oral communications.

In 1999, Patni Computer Systems was restructured as a "pure software operation" It became a "separate entity from PCS Industries Limited". In 2001 the software (PATNI) and hardware (PCS Technologies) divisions were separated entirely in branding as well. With the Patni Computer Systems, the software company, being branded as PATNI.

General Atlantic Partners, a leading global private equity company, invested $100 million in Patni Computer Systems in 2002. It was "one of the most substantial investments made in any Indian software company by an international private investment group and [was] the largest made by General Atlantic in Asia."

Patni Computers listed on the Bombay Stock Exchange (BSE) and National Stock Exchange of India in January 2004. It issued ADRs on the NYSE (ticker: PTI) in December 2005. This deal was "the second-largest in the high technology sector in terms of deal value, after Oracle Corp's acquisition of majority stake in India's i-flex solutions for more than $1.5 billion, according to Thomson Reuters data."

Personal life

Patni was married for 42 years to Poonam Kapur, who was born in Lucknow, India and emigrated to the US in 1972.

Death He died on 3 June 2014 in Boston MA.